Private Mortgages

These types of mortgages are available for our clients who aren’t candidates for obtaining a traditional mortgage as they don’t meet the bank’s criteria.  A private mortgage is issued by an investor or business and is based on the property value instead of the borrower.  Borrowers may be asked to provide up to 35% for the down payment depending upon their financial situation.  This is a short-term loan which covers the interest only. Open terms are available at a later date allowing early repayment, without penalty.  Our mortgage brokers will work to find the best financing options that will fit your requirements until you are able to commit to a traditional loan.